China's gross domestic product (GDP) grew 6.9% in 2017, beating expectations of 6.8%. GDP growth for 2016 was also 6.9%GDP in Q4 2017 grew 6.8%, slightly above expectations of 6.7%.On a quarterly basis, GDP expanded 1.6%, just under expectations of 1.7%.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Premiums of Jinchuan nickel traded at 200-300 yuan/mt against contract 1802 on the Wuxi Stainless Steel Exchange. Jinchuan offered 96,800 yuan/mt for refined nickel on Thursday January 18, 2017.Nickel traded in the range of 96,100-96,800 yuan/mt.Russian nickel traded against contract 1802 at discounts of 100-200 yuan.For editorial queries, please contact Dais...Read More
China's gross domestic product (GDP) grew 6.9% in 2017, beating expectations of 6.8%. GDP growth for 2016 was also 6.9%GDP in Q4 2017 grew 6.8%, slightly above expectations of 6.7%.On a quarterly basis, GDP expanded 1.6%, just under expectations of 1.7%.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and...Read More
SHANGHAI, Jan. 18 (SMM)? 1/4 ?Nonferrous metals saw more deficits from January to November 2017 compared to the same period in 2016, according to a release from the World Bureau of Metal Statistics (WBMS).AluminiumAluminium saw a deficit of 1.57 million mt, following a deficit of 770,000 mt in 2016. Demand for primary aluminium for January to November 2017 was 54.92 million mt. This was 1.41...Read More
China's gross domestic product (GDP) grew 6.9% in 2017, beating expectations of 6.8%. GDP growth for 2016 was also 6.9%GDP in Q4 2017 grew 6.8%, slightly above expectations of 6.7%.On a quarterly basis, GDP expanded 1.6%, just under expectations of 1.7%.The article is edited by SMM and is provided for information purpose only. It does not mean SMM agrees with its views and...Read More
SHANGHAI, Jan. 18 (SMM)? 1/4 ?Nonferrous metals saw more deficits from January to November 2017 compared to the same period in 2016, according to a release from the World Bureau of Metal Statistics (WBMS).AluminiumAluminium saw a deficit of 1.57 million mt, following a deficit of 770,000 mt in 2016. Demand for primary aluminium for January to November 2017 was 54.92 million mt. This was 1.41...Read More
The London Metal Exchange has appointed Robin Martin as its new head of market development, the exchange said. Robin is currently managing director for market infrastructure at the World Gold Council (WGC). He joined the organisation in November 2012. In July 2017, the LME and the WGC teamed up to launch LMEprecious which introduced...Read More
SHANGHAI, Jan. 18 (SMM)? 1/4 ?Nonferrous metals saw more deficits from January to November 2017 compared to the same period in 2016, according to a release from the World Bureau of Metal Statistics (WBMS).AluminiumAluminium saw a deficit of 1.57 million mt, following a deficit of 770,000 mt in 2016. Demand for primary aluminium for January to November 2017 was 54.92 million mt. This was 1.41...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Copper: Prices face downward pressure in the short term. LME copper is expected to trade at $7,000-7,130/mt today while the SHFE 1803 contract is to trade at 53,000-54,200 yuan/mt. On the spot market, discounts are likely to narrow to 160-110 yuan/mt as downstream customers restock.Aluminium: LME aluminium is expected to stay rangebound at $2,175-2,200/mt tod...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Copper: Prices face downward pressure in the short term. LME copper is expected to trade at $7,000-7,130/mt today while the SHFE 1803 contract is to trade at 53,000-54,200 yuan/mt. On the spot market, discounts are likely to narrow to 160-110 yuan/mt as downstream customers restock.Aluminium: LME aluminium is expected to stay rangebound at $2,175-2,200/mt tod...Read More
SHANGHAI, Jan 18 (SMM)? 1/4 ?Copper: Prices face downward pressure in the short term. LME copper is expected to trade at $7,000-7,130/mt today while the SHFE 1803 contract is to trade at 53,000-54,200 yuan/mt. On the spot market, discounts are likely to narrow to 160-110 yuan/mt as downstream customers restock.Aluminium: LME aluminium is expected to stay rangebound at $2,175-2,200/mt tod...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close on Thursday January 18, with only tin bucking the higher trend. Aluminium prices closed over 2% higher than Wednesday's close price supported by stronger-than-expected Chinese data and the dollar weakening once more. "Judging by its current technical configuration, LME aluminium continues to consolidate from recent gai...Read More
Comex copper prices recovered from a multi-week low in the US morning on Thursday January 18, with solid Chinese data and a weaker dollar providing support. Copper for March settlement on the Comex division of the New York Mercantile Exchange inched up 1.10 cents or 0.3% to $3.20 per lb. The complex is largely being supported by a weakening dollar and the release of key Chinese data today. Chinese...Read More
Seaborne iron ore prices saw marginal gains on Thursday January 18 with Metal Bulletin's 62% Fe Iron Ore Index nudging up amid rising port prices and a stronger futures market. Metal Bulletin's 62% Fe Iron Ore IndexToday: $74.87 per tonne cfr Qingdao Daily change: Up by $0.36 per tonne per tonne Month-to-date average: $76.64 per tonne Metal Bulletin's...Read More
Comex copper prices recovered from a multi-week low in the US morning on Thursday January 18, with solid Chinese data and a weaker dollar providing support. Copper for March settlement on the Comex division of the New York Mercantile Exchange inched up 1.10 cents or 0.3% to $3.20 per lb. The complex is largely being supported by a weakening dollar and the release of key Chinese data today. Chinese...Read More
Turkish rebar and wire rod prices have dropped due to weak demand and weaker billet values, sources said on Thursday January 18.Metal Bulletin's weekly price assessment for rebar exports out of Turkey was $565-570 per tonne fob on an actual weight basis, down from $575-585 per tonne.Turkish steel mills...Read More
Avanco Copper has entered into an agreement to buy Vale's Pantera high-grade copper-gold project, located near its existing operations in Brazil's northern region of Caraj??s.Still at an early stage of exploration, Pantera "has the potential to significantly add resources, reserves and a longer-term production profile for the company," Avanco Copper said earlier this...Read More
London Metal Exchange aluminium nearby spreads have moved into backwardation for the first time in five months, yet the physical market expects the recent uptrend in European premiums to continue.Tight spreads that make stock financing unprofitable and typically prompt some destocking, which in turn put downward pressure on premiums, have yet to dent the upbeat sentiment in the European aluminium...Read More
Barrick Gold Corp is analyzing a revised sanction related to its Pascua Lama project issued on Wednesday January 17 by Chile's Superintendencia del Medio Ambiente (SMA), the company said. The Pascua Lama copper, gold and silver project, located on the border of Chile and Argentina, is currently operating under a temporary closure plan in Chile. The revised sanction includes a cut in the original S...Read More
Vedanta's Hindustan Zinc unit reported a 4% slip in net profit from October to December 2017 despite surging commodity prices. The quarterly earnings dropped to 22.3 billion rupees ($349.5 million) on a drop in investment income, from 23.2 billion rupees a year ago, according to a regulatory filing released on Thursday January 18. The biggest zinc miner in India also said it had produced 3% less z...Read More